A majority of Americans continue to have a more positive than negative view of capitalism, with 57% in a new poll from Axios and SurveyMonkey saying they have a positive view and 36% saying they have a negative view, a slight narrowing from the 61-36 split in January 2019.
But, young adults’ perceptions of capitalism have been the real driver of topline change in the past two years. Today, 18-34 year-olds are almost evenly split between those who view capitalism positively and those who view it negatively (49% vs. 46%). Two years ago, that margin was a gaping 20 points (58% vs. 38%). By contrast, views among adults ages 35 and older haven’t budged, with wide margins of 35-64 year-olds and 65+ saying they view capitalism in a positive light.
Among adults in Gen Z (ages 18-24), perceptions of capitalism are truly underwater: 42% have a positive view and 54% have a negative view.
And more specifically, young Republicans have seen real movement in the past two years: in 2019, 81% of Republicans and GOP leaners age 18-34 had a positive view of capitalism; today, that number has fallen to 66%. Among Republicans 35 and older, views haven’t shifted as substantially.
While perceptions of capitalism have changed rapidly among young adults, perceptions of socialism have changed more incrementally among all age groups. Slightly fewer young adults now than in 2019 say they have a positive view of socialism (51% now vs. 55% in 2019). But that dip is offset by slight increases in the number of adults ages 35-64 and 65+ who say they have a favorable view of socialism. Overall, perceptions of socialism are still underwater nationally, with 41% of Americans saying they have a positive view and 52% saying they have a negative view.
Looking at the bigger picture, 66% of people say the federal government should pursue policies that try to reduce the gap between the wealthy and the less well-off in America (up slightly from 62% in 2019). That slight increase is due to changes across the board by party (+5pp among Republicans and Republican leaners, +2pp among independents, and +7pp among Democrats and Democratic leaners.
Though the topline number doesn’t really show it, views among Republicans have shifted quite a bit by age. In 2019, 40% of Republicans age 18-34 said the government should pursue policies that reduce the wealth gap; that has increased to 56% today among the same age group. Republicans age 35-64 and 65+ had much less substantial shifts in perceptions, and Democrats had small increases at every age level.
For more detailed results, click through the interactive toplines below.
Read more about our polling methodology here.
Which one of the following issues matters MOST to you right now?
Gender Answer Total Male Female Unweighted N 2,309 1,158 1,097 Jobs and the economy 32%37%28%Health care 18%16%20%The environment 11%8%13%Education 10%8%12%Immigration 10%12%7%Terrorism 4%4%3%Foreign policy 2%2%1%Other (please specify) 12%11%13%No answer 1%1%1%Question wording: Which one of the following issues matters MOST to you right now?Survey dates: –Do you approve or disapprove of the way Joe Biden is handling his job as president?
Gender Answer Total Male Female Unweighted N 2,309 1,158 1,097 Strongly approve 27%24%31%Somewhat approve 26%25%27%Somewhat disapprove 11%12%11%Strongly disapprove 31%37%26%No answer 3%2%5%Question wording: Do you approve or disapprove of the way Joe Biden is handling his job as president?Survey dates: –Do you have a positive or negative reaction to the word capitalism?
Gender Answer Total Male Female Unweighted N 2,309 1,158 1,097 Positive 57%68%48%Negative 36%28%43%No answer 7%4%9%Question wording: Do you have a positive or negative reaction to the word capitalism?Survey dates: –Do you have a positive or negative reaction to the word socialism?
Gender Answer Total Male Female Unweighted N 2,309 1,158 1,097 Positive 41%36%45%Negative 52%59%46%No answer 7%5%10%Question wording: Do you have a positive or negative reaction to the word socialism?Survey dates: –Do you believe the federal government should or should not pursue policies that try to reduce the gap between wealthy and less well-off Americans?
Gender Answer Total Male Female Unweighted N 2,309 1,158 1,097 Believe strongly that they should 39%34%42%Believe somewhat that they should 27%28%27%Believe somewhat that they should not 13%13%12%Believe strongly that they should not 17%21%12%No answer 5%3%6%Question wording: Do you believe the federal government should or should not pursue policies that try to reduce the gap between wealthy and less well-off Americans?Survey dates: –What do you think is the bigger problem in this country:
Gender Answer Total Male Female Unweighted N 2,309 1,158 1,097 Unfairness in the economic system that favors the wealthy 58%50%65%Over-regulation of the free market that interferes with growth and prosperity 36%45%29%No answer 6%5%7%Question wording: What do you think is the bigger problem in this country:Survey dates: –Do you think the evidence for capitalism, as an economic system, is now better, worse, or about the same, when compared with 50 years ago?
Gender Answer Total Male Female Unweighted N 2,309 1,158 1,097 Better than 50 years ago 27%33%22%Worse than 50 years ago 41%37%45%About the same as 50 years ago 24%26%23%No answer 7%4%10%Question wording: Do you think the evidence for capitalism, as an economic system, is now better, worse, or about the same, when compared with 50 years ago?Survey dates: –Do you think the evidence for socialism, as an economic system, is now better, worse, or about the same, when compared with 50 years ago?
Gender Answer Total Male Female Unweighted N 2,309 1,158 1,097 Better than 50 years ago 27%26%28%Worse than 50 years ago 43%45%40%About the same as 50 years ago 22%24%22%No answer 8%5%10%Question wording: Do you think the evidence for socialism, as an economic system, is now better, worse, or about the same, when compared with 50 years ago?Survey dates: –
